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1.1288 is the trigger for.........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: 1.1288 is the trigger for gains:
*RES 4: 1.1376 High Jul 1
*RES 3: 1.1323/44 200-dma / Low Jun 25
*RES 2: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off
*RES 1: 1.1288 High Jul 5
*PRICE: 1.1271 @ 03:41 GMT July 15
*SUP 1: 1.1238 Low Jul 12
*SUP 2: 1.1193 Low Jul 9 and key support
*SUP 3: 1.1181 Jun 18 low
*SUP 4: 1.1149 2% lower Bollinger band
EURUSD retains an overall bullish tone. Price action is back above the 100-dma
and testing resistance offered by the former channel support at 1.1276. Last
Tuesday's candle pattern is a bullish engulfing reversal, suggesting a shift in
sentiment has occurred favouring bulls. Resistance is at 1.1288 where a break
would confirm a resumption of gains and open the 200-dma at 1.1323 as a first
objective. Support lies at 1.1238 from the Jul 12 low.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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